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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announces that a tender of 10-year Exchange Fund Notes will be held on December 5 (Friday) for settlement on December 8 (Monday).
A total of HK$800 million 10-year Notes will be on offer, of which HK$5 million will be made available for offer to members of the Public who wish to submit non-competitive tender bids through Hong Kong Securities Clearing Company Limited (HKSCC). If the Notes reserved for non-competitive tender are under-subscribed, the non-subscribed amount will be added to the portion of notes for competitive tender (initially set at HK$795 million). The Notes will mature on December 9, 2024 and will carry interest at the rate of 1.84% per annum payable semi-annually in arrears.
Members of the public who wish to submit non-competitive tender applications for Notes that are open to HKSCC may do so through Stock Exchange Participants/Brokers, or for those who hold Investor Accounts of the Central Clearing and Settlement System (CCASS) at the HKSCC, directly through HKSCC, for submission to the HKMA for processing. Competitive tender applications for the Notes must be submitted through any of the Eligible Market Makers on the current published list, which can be obtained from the HKMA at 55/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong (telephone 2878 1465), or from the HKMA's website at www.hkma.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender.
The tender results will be published on the HKMA's website, the Reuters screen (HKMAOOE), and Bloomberg. Applicants who submitted non-competitive tender bids through HKSCC may also obtain the tender results from Stock Exchange Participants/Brokers, or for applicants who hold Investor Accounts at HKSCC's CCASS from the CCASS terminal for CCASS Broker/Custodian/Participants and CCASS Phone System.
Hong Kong Monetary Authority Exchange Fund Note Programme tender information
Tender information of 10-year Exchange Fund Notes:
Issue Number : 10Y2412
Stock code : 4057 (EFN 1.84 2412)
Tender date : December 5, 2014 (Friday)
and time 9.30am to 10.30am
Issue and settlement : December 8, 2014 (Monday)
date
Amount on offer : HK$800 million
(up to HK$5 million for
non-competitive tender)
Commencement of/ : Please refer to requirements
Deadline for as set down by HKSCC
submission of non-
competitive tender bids
by retail investors
through HKSCC
Maturity : Ten years
Maturity date : December 9, 2024
Interest rate : 1.84% p.a.
Interest payment dates: June 8, 2015
December 8, 2015
June 8, 2016
December 8, 2016
June 8, 2017
December 8, 2017
June 8, 2018
December 10, 2018
June 10, 2019
December 9, 2019
June 8, 2020
December 8, 2020
June 8, 2021
December 8, 2021
June 8, 2022
December 8, 2022
June 8, 2023
December 8, 2023
June 10, 2024
December 9, 2024
Tender amount : Each tender must be for
an amount of HK$50,000 or
integral multiples thereof
for both competitive and
non-competitive tender.
Members of the public who
wish to apply for the
Notes through non-
competitive tenders that
are open to HKSCC may do
so through Stock Exchange
Participants/Brokers, or
for those who hold
Investor Accounts at
HKSCC's CCASS, directly
through HKSCC. Members of
the public who wish to
apply for the Notes
through competitive tender
may only do so through
any of the Eligible
Market Makers on the
current published list.
Other details : Please see Information
Memorandum published or
approach Eligible Market
Makers, HKSCC, or brokers
who are Exchange
Participants of the Stock
Exchange of Hong Kong
Expected commencement : December 9, 2014
date of dealing on
the Stock Exchange
of Hong Kong
Price/Yield Table of the new EFN at tender for reference* only:-
Yield-to- Price Yield-to- Price
Maturity Maturity
0.84 109.59 1.84 100.08
0.89 109.09 1.89 99.63
0.94 108.59 1.94 99.18
0.99 108.10 1.99 98.73
1.04 107.61 2.04 98.29
1.09 107.12 2.09 97.85
1.14 106.63 2.14 97.41
1.19 106.15 2.19 96.98
1.24 105.66 2.24 96.54
1.29 105.18 2.29 96.11
1.34 104.71 2.34 95.68
1.39 104.23 2.39 95.26
1.44 103.76 2.44 94.83
1.49 103.29 2.49 94.41
1.54 102.83 2.54 93.99
1.59 102.36 2.59 93.57
1.64 101.90 2.64 93.15
1.69 101.44 2.69 92.74
1.74 100.98 2.74 92.33
1.79 100.53 2.79 91.92
1.84 100.08 2.84 91.51
* Disclaimer
The information provided here is for reference only. Although extreme care has been taken to ensure that the information provided is accurate and up-to-date, the HKMA does not warrant that all, or any part of, the information provided is accurate in all respects. You are encouraged to conduct your own enquiries to verify any particular piece of information provided on it. The HKMA shall not be liable for any loss or damage suffered as a result of any use or reliance on any of the information provided here.
Ends/Wednesday, November 26, 2014
Issued at HKT 16:31
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